Don’t miss action in this PSU Stock with a dividend yield of 13.1 per cent as record date for interim dividend nears

The stock trades at a price to book value of 0.58 and the stock has an ROE of 21.3 per cent. The company has been maintaining a healthy dividend payout. 

REC is a Central Public Sector Undertaking under the Ministry of Power involved in financing projects in the complete power sector value chain from generation to distribution.  

The stock has a decent track record for rewarding its shareholders via dividend payment. The stock has declared nearly 32 dividends since September 08, 2008. In the past 12 months, the company has declared an equity dividend amounting to Rs 15.80 per share. At the current share price of Rs 120.65, this results in a dividend yield of 13.10 per cent.   

Interestingly, the company declared 2^nd interim dividend of Rs 3.25 per equity shares of Rs 10 each for the financial year 2022-23 as approved by the Board of Directors. The record date for the said interim dividend is Thursday, February 9, 2023 and the said interim dividend shall be paid on Tuesday, February 28, 2023.   

The stock trades at a price to book value of 0.58 and the stock has an ROE of 21.3 per cent. The company has been maintaining a healthy dividend payout.